JP Morgan Maintains Overweight Rating for XPO: Here's What You Need To Know

JP Morgan has decided to maintain its Overweight rating of XPO XPO and raise its price target from $122.00 to $144.00.

Shares of XPO are trading up 6.32% over the last 24 hours, at $130.17 per share.

A move to $144.00 would account for a 10.63% increase from the current share price.

About XPO

Following the spinoff of its contract logistics division (GXO) in 2021 and freight brokerage operations (RXO) in 2022, XPO is moving closer to becoming a pure-play asset-based less-than-truckload carrier. On a pro forma basis for the November RXO spinoff, We estimate LTL shipping now makes up 60% of total revenue, with XPO's European truckload and LTL operations making up 40%. That said, XPO's LTL segment EBITDA mix is much higher than 60%. We believe XPO intends to divest its European trucking division once it finds the right buyer.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.